Top ways you can save money by going to community college

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It’s that time of year when many seniors are thinking about whether to make the leap to head off to college or just find work. It’s a big decision and there is a lot at stake financially. Many students wonder whether it makes sense to save money by going to community college. If you or your child are trying to decide whether community college is a good idea, then this article is for you.

When I was 18, I started applying to several colleges, and I feel like the one mistake I made was I never even considered community college.

For many students, there is a belief that community college is only for those who cannot get accepted into a four-year college or can’t afford going to a university. These are myths that can cost you thousands of dollars!

I admit I was one of those who bought into the belief that I could do better than community college. What I’ve come to discover is I would have saved a significant amount of money if I had gone to a local community college. But I was younger then, and not only did I buy into the myths, but I definitely let other’s opinions have a say.

It’s interesting how parents and loved ones believe these myths as well, and don’t consider the financial burden it will create for themselves or their kids (if their kids end up with a huge college debt)!

This can be a big financial mistake!

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Community College Can Save You Thousands of Dollars

Community college should be a real option, and for financially savvy folks, it should be their first option!

The reason for this is college costs are on the rise.

According to Student Debt Relief, the average cost for tuition and fees at a:

Private four year college is $34,740
Public four-year college for out-of-state students is $25,620
Public four-year college for in-state students is $9,970
and for Community College students, the average cost is about $3,570

This is a huge savings if a student went to community college over a public four-year college. Public four-year school is almost 3 times more in cost! So yes, you would save money by going to community college.

The cost above doesn’t even include housing or books and other fees. And housing tends to be even more expensive than college tuition in many cases.

The National Center for Education Statistics estimates that students who live at home end up spending around $3,939 on average. Those who live away from home or with a roommate spend on around $8,235.

But what about borrowing and low interest rates for students?

It’s true that students and families can qualify for lower interest rate loans to pay for college tuition, but it’s very common for students to over-borrow.

The reason for this is because they are not financially educated yet, and suddenly, they are granted with money.

According to a survey done by Nerdwallet, 48% of undergrad students felt that they could have borrowed less and still have afforded their educations. On average, they said they borrowed $11,597 more than they needed to for their education! About a fourth of the students said they regretted going to a school where they had to take out loans.

I remember hustling my butt off to pay my tuition, books, housing and vehicle expenses. I definitely regret not looking at all my options carefully and really considering community college as a viable option.

Whether you are just starting college or haven’t enrolled yet, take the time to do the research and see if adding in community college classes could help to decrease your expenses for school and save money.

Questions you might have about saving money by going to community college

It’s time to set the record straight on some of the biggest misconceptions people have about community college.

You might be wondering whether you can actually save money by going to community college. Or you might believe the units don’t actually transfer. Perhaps people around you are telling you the classes won’t be as good as the courses at a four-year college.

Let’s debunk each of these myths one-by-one and discuss whether you would actually save money by going to community college.

Will all my credits from community college transfer to a four year college?

The simple answer to this is to check with your community college and four year college. They usually have a list of what courses will transfer easily.

I know many students worry that their class credits will not transfer, but this can be easily avoided ahead of time by simply checking before you sign up.

It can be a huge waste of time and money to take courses which will not transfer. Your community college counselor should be able to provide you with a print out of the courses which will transfer for college credit easily.

Are community college classes as good as the classes from a four year college?

Many people think that the quality of classes won’t match that of the ones you would get at a four-year college. This is simply not the case.

In fact, I know of many students who couldn’t get the attention they needed at a four-year school to pass difficult courses in math and science. Yet when they took the class at the community college, they were able to receive additional help and pass.

Generally, your first two years at a four-year college will consist of what’s called general education classes. Most majors require you to pass basic courses in English, math, science, social science and humanities.

The rest of your course work will be dedicated to electives and core subject classes.

What this means is you could take all or some of your general ed’s at a community college and save two year’s worth of expenses.

And truthfully, to get a degree, you simply need to fulfill the requirements of the major. As long as you take everything you need to take, you get the diploma! And the diploma will have the name of the four-year college where you finished school (not the community college). So no one will even know you went to community college.

One way of speeding up the process and saving a little money would be to take a bunch of general ed classes during the summer months.

Will I save money by going to community college? Is it actually worth doing?

Well, if we run the numbers above, yes, it would save you thousands of dollars! It’s the difference between $9,970 and $3,570 in tuition alone!

I would suggest sitting down with a spreadsheet (you could use our free budget worksheet) to do a quick run down of your expected expenses.

When I sat down with my parents over the course of a few family meetings, we ran numbers and I started to realize the true expense of college.

If you are going away to school, expect all expenses to triple. You have to think about housing, utilities, transportation, meals, books, traveling home for holidays, etc.

And if you decide to use loans to help pay for college, note that you could be adding way more cost on top in the form of interest over many years.

Consider if you want to start out life with debt, or if it might make more sense to go to an affordable college to pay off school as you attend.

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But community college does not have my core major classes. Won’t I get done faster at a four-year?

Most of my friends (including myself) had no idea what they wanted to do for work when they graduated. And the ones who said they knew, often changed their major many times.

One student friend I knew majored in graphic design, and his parents paid over $100,000 for his first two years of school. While exploring and taking core classes, he decided he didn’t want to continue as a graphic designer. He eventually graduated with a major in business. And then went into real estate… (which doesn’t even require a degree!!!)

Consider community college as a starting point especially if you are unsure about what you want to do for work.

If you are certain about your major, then it makes sense to take core classes early in the process. But I would still recommend fulfilling your general ed classes first and taking a core class here and there to see if you enjoy the material.

I went to college thinking I wanted to become a veterinarian. After taking three core classes and working at a vet clinic during my first year of school, I decided it wasn’t for me.

An English professor noticed my writing in a basic English course, and he suggested I switch majors. I tried a few English classes and fell in love.

Give yourself time to explore. Community college can be a great place to fulfill general education classes along the way.